Elbit Medical Technologies - Large portion of InSightec stake sold
Elbit Medical recently completed the sale of most of its stake in InSightec for $102.2m, at a $702m valuation for the company. In March, InSightec announced a Series F funding round that is being led by current investor, Koch Disruptive Technologies, which will raise an additional $150m for InSightec. The post-money valuation for InSightec would be $1.3bn fully diluted. Following these transactions, Elbit Medical now has a stake of approximately 3.3% of InSightec (2.8% on a fully diluted basis) down from 22% (18% on a diluted basis) previously.Elbit Medical Technologies Ltd is an Israel-based company engaged in the healthcare sector. It is a holding Company which was established in order to gather all of Elbit groups' bio medical and medical devices investments under one entity. Elbit Medical Technologies Ltd's medical division includes investment in InSightec Ltd that is engaged in the development, production and marketing of magnetic resonance imaging guided ultrasound equipment as well as investment in Gamida Cell Ltd that is engaged in the development of stem cell therapeutics based on its proprietary technologies for stem cell expansion as well as future regenerative cell-based medicines including heart tissue repair.
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